Overview
- VinFast will carve out its Vietnam manufacturing arm, VFTP, and transfer it to a group led by Future Investment Research and Development JSC with founder Pham Nhat Vuong participating in a deal worth about VND13.3 trillion (around USD 530 million), pending shareholder and creditor approvals with closing targeted for the third quarter of 2026.
- The divested unit is reported to take on roughly VND182 trillion (about USD 7.3 billion) in manufacturing-related liabilities, easing the burden on the listed company’s balance sheet.
- VinFast will keep research and development, intellectual property, sales, and after-sales functions, while VFTP will keep building VinFast-branded vehicles under contract with no change to customer service, according to the company.
- The company says the shift will lower future capital spending and support overseas growth, with a goal of reaching EBITDA breakeven in 2027.
- This follows the August 2025 spin-off of R&D unit Novatech to the founder for about VND39.8 trillion, a founder-involved deal that was described as a capital injection to support operations.